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| Tuesday, 10 June 2003 |
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Carsons PT Agromas to increase palm oil production PT Agromas, the Carsons Cumberbatch Group company dealing in palm oil plantations in Malaysia is planning the second phase of the expansion project which will take the processing capacity of the company to 60 million tonnes per hour which will be done through the planting the reserve land of 2,307 hectares. Plans for further expansions are also being evaluated. President/Director Chandima Gunawardena has told shareholders in his Annual Report for the year ended 2003 that the company is committed to being a low cost producer through consistent productivity gains and costs of rationalisation. To achieve this, the best agronomical practices will be maintained. He is confident that the plantation will continue to be profitable with the increased yields and decreased production costs per unit. The financial review of the company indicates that the turnover for the year ended 2003 was Malaysian Rupiahs 115.55 billion (US$ 13.15 million), which was a significant improvement over the Rp. 69.15 billion (US$ 6.92 million), the previous year, which has been attributable to palm oil and PK shipments. The company's Gross Profit of Rp. 63.42 billion (US$ 7.22 million) compared with the Rp. 43.5 billion (US$ 4.35 million), the previous year. The net profit before tax was Rp. 28.86 billion (US$ 28.86 million) which was inclusive of a exchange gain. The Earnings Per Share for the period under review was Rp. 444,978 (US$ 50.65) per share of Rp. 1 million each which was an improvement of Rp. 22,493 (US$ 2.25) per share the previous year. Gunawardena said that the company should have adhered to the following principles to ensure sustainable development: They are: high yielding, planting material - those that will keep the resource inputs at the lowest levels, the plantation management should ensure in the event of adverse effects on soil fertility, water and purity should be minimal and the productivity systems to ensure effective environment friendly waste disposal systems. |
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